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FINANCIAL NEWS
Jordan CB raises benchmark rates
06 Feb 2012
(MENAFN) The Central Bank of Jordan (CBJ) said that in order to boost savings in local currency, the bank raised benchmark rates by 50 basis points, reported Arab News.
The bank added that discount rate was raised to 5 percent, while repo rate to 4.75 percent, on the other hand, overnight rates on the dinar grew to 2.75 percent.
It also said that the move, the second since June, would help the bank continue its policy of expanding monetary stability, to control inflation and achieve the stability of the exchange rate of the dinar.
It is worth noting that in 2011, Jordan’s inflation averaged 4.4 percent, compared with 5 percent in 2010.
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